| COMPANY |
DLocal Limited |
| COURT |
United States District Court for the Eastern District of New York |
| CASE NUMBER |
23-cv-07501 |
| JUDGE |
The Hon. Nicholas Garaufis |
| CLASS PERIOD |
Pursuant/traceable to the June 2, 2021 IPO |
| SECURITY TYPE |
Securities |
Case Background:
On October 6, 2023, the initial Complaint was filed against DLocal Limited ("DLocal" or the "Company") on behalf of all persons who (i) purchased or otherwise acquired DLocal Limited Class A common stock pursuant and/or traceable to the final amended registration statement filed and declared effective on June 2, 2021 (collectively, the "IPO Registration Statement") issued in connection with the Company's initial public offering conducted on or about June 2, 2021 ("IPO") and/or (ii) purchased or otherwise acquired DLocal securities during the Class Period.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) DLocal engaged in certain improper conduct and transfers abroad in violation of Argentine laws and/or regulations, including, inter alia, foreign exchange regulations; (2) accordingly, DLocal's compliance controls and procedures, including its disclosure controls and procedures and internal controls over financial reporting, were deficient; (3) all the foregoing subjected the Company to a heightened risk of governmental and/or regulatory scrutiny in Argentina and/or enforcement action by Argentine authorities; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On March 18, 2024, Lead Plaintiffs filed Amended Class Action Complaint. On November 8, 2024, Defendants filed a Motion to Dismiss the Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.